Understanding and executing on your office space needs in a Post-Pandemic world.
Category: Relocation, Downsize
Industry: Consumer Goods
New York Headquarters: Midtown
Company Size: 51-200 employees
About Nest
NEST New York is a fast-growing, leading fragrance lifestyle brand offering a full range of innovative and award-winning home, fine, personal care and fragrance technology products. Launched in 2008 by fragrance authority Laura Slatkin, NEST products have captured the hearts and households of so many people. The brand is known for its outstanding product quality, extraordinary fragrances and timeless, classic design. The brand’s products are currently sold primarily in North America through leading specialty stores, luxury department stores, boutiques, Pureplay DTC accounts and the brand’s online hub NESTNewYork.com. The brand has recently expanded into the UK and the Middle East and will rollout global more extensively over the next several years.
Client’s Challenges
- Lease Expiration: When NEST engaged The Office Advisor team, they were about 4 months away from the expiration of their current lease. In the commercial real estate world, that’s essentially tomorrow.
- Hybrid-Work: In addition to the expiring lease, NEST had recently implemented a hybrid-work policy. They knew they didn’t need as much space as before (20k square feet), but they didn’t know how to confidently plan their needs for the future.
- Change in Ownership: NEST was in the process of a Private Equity sale. Building consensus on the new office decision was a huge worry.
Solution
One-stop-shop!
The Office Advisor has experts that can help you with every part of the process.
- Workplace Strategy: The Office Advisor team quickly mobilized their in-house Workplace Strategy team to help NEST management understand their needs as a new hybrid work organization.
- Seamless Process: Immediately after needs were determined, The Office Advisor team provided NEST with a comprehensive survey of opportunities that fit the bill. NEST didn’t have time to build brand-new space. The Office Advisor team vetted every possible option prior to recommending NEST tour.
- Consensus Building: The Office Advisor prides itself on transparency and providing our clients with an auditable process. NEST was able to efficiently and effectively provide it’s new Private Equity owner with the confidence that this was the optimal solution.
Troy and Maria needed a partner that could help them navigate their workplace strategy, internal consensus building, and lease execution through an efficient, accelerated process. Pete and his team reassured Nest that they need to look no further – between Pete’s experience and JLL’s “one-stop-shop” capabilities, they knew they were covered.
The Results
- NEST was able to reduce its footprint by 65% and secure brand-new built space in Midtown Manhattan.
- NEST reallocated the savings to enhance their employee experience within the space.
- The full process – from start to finish – took 120 days.
Quote from Maria Dempsey (Former CEO)
“Working to find a new office space with Peter at JLL was a great experience. We needed to find office space very quickly and the team was able to find us a perfect space in a premium location. Peter spent a lot of time understanding our needs and then showed us a variety of offices that answered our needs. He was very responsive and professional and helped us to move in record time! I highly recommend Peter and JLL!”
